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Now a days many companies acknowledge that MDM is part of their future to maintain their Data Governance. Let’s talk about Master Data Management (MDM)
- What is MDM ?
Let’s take a small example, In my organization, we have two source systems, one is Legacy system (Mainframe) and another one is Revamped system (which would eliminate existing legacy system once our Enterprise DW goes live). I will take a small piece to elaborate this, someone entered a member information thru legacy system (it has fixed approach to enter nomenclature of members). let’s say legacy system entered a name in its database as Sudheer G Sharma. Where as same member information entered from another system (revamped) as Goda, Sudheer Sharma.
Although these systems storing the same member information with different naming conventions in their respective databases. You would face real challenges when you reconcile the data. You gottu de-dupe the data, must have to have complex logic for data reconciliation.
If you have MDM in place, you would load the same member information in MDM database(which maintains high quality data), from there you can pull the information to respective databases. Thus you wont miss quality of the data. You dont have to do reconciliation work . Have a master copy in a consolidate, centralized database. Pick the record from this harmonized, centralized database whenever you want.
- What are the major activities of MDM?
Planning, Implementation, and Control activities to assure the consistency of data. In other words ‘Golden Version’ of contextual data values.
- Planning: First of all, understand Reference and Master data integration needs, then understand the sources, based on your inputs design the architecture.
- Implementation: Define rules, establish Golden version of records and Implement appropriate data integration solutions.
- Other activities: Replicate and Distribute Reference & Master Data.
This is just a small piece of MDM and how it works. Hope you can distinguish the importance of MDM now.